Inflation rates are now lower than they were a year ago, according to the U.S. Department of Labor (DOL). Consumer inflation expectations are also moving lower. A recent report from the DOL showed that consumer prices rose a seasonally adjusted 0.3% in December from November, resulting in prices being up 3.4% from 2022. Price increases were up 3.1% year over year in November. However, the main difference comes when looking at core prices, which exclude food and energy products that are more unpredictable. Looking at the changes for core prices show that for the first time since May 2021 prices rose less than 4% year over year, with prices rising 3.9% YOY in December. This trend of inflation easing up is likely to continue, especially when considering housing costs for both renters and owners. Rent prices have been cooling, based on new data from sources such as Zillow as well…
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